American College of Radiology assembles experts to investigate economics of AI

The American College of Radiology is forming a panel of experts to help investigate the economics of the burgeoning artificial intelligence industry. 

ACR said Tuesday that its new committee will include around 10 members, with knowledge in areas such as CPT (Current Procedural Terminology) code development and imaging informatics. Their mission is to address the lack of Medicare, Medicaid and private insurance reimbursement for AI tools used in medical imaging. 

“Radiologic AI challenges and opportunities are significant,” Frank J. Rybicki, MD, PhD, head of the University of Arizona’s Department of Radiology, who will serve as chair of the new ACR Artificial Intelligence Economics Committee, said in a statement July 15. “Developing an AI economic strategy—including revenue cycle and reinvestment in the best technologies—will require the dedication and expertise of ACR volunteer radiologists, staff, allied professionals, patients and their advocates. I look forward to leading this effort.”

ACR said the new initiative will seek to consolidate available resources in this space while developing financial strategies related to AI. Other areas of focus will include computer science and applications of convolutional neural networks, along with the American Medical Association’s Specialty Society Relative Value Scale Update Committee (RUC). The latter is a volunteer group of physicians at the AMA, which advises the Centers for Medicare & Medicaid Services on determining payment values. 

Christina Berry, MPH, ACR team lead on economic policy, will serve as staff point person for the committee. She’ll help the panel collaborate with others affiliated with the college, including its Informatics Commission, government relations and quality and safety departments, and the ACR Data Science Institute.

“Many ACR commissions and volunteers have dedicated themselves to scenario planning, federal rulemaking response, and collaborating with government and multispecialty thought leaders on how to bring this impactful technology to the bedside of our patients,” Gregory N. Nicola, MD, chair of the ACR Commission on Economics, RUC panel member, and partner with Hackensack Radiology, said in the announcement. “The Artificial Intelligence Economics Committee will enable us to consolidate resources across the college by bringing together a diverse range of expertise to continue this vital work.”